86 | Separating Your Business Finances From Your Personal Budget: The Basics and How to Do It, Even If You're Bad At Math Or If You Have Inconsistent Income

⁠Book a free 20 minute financial coaching session with us!⁠⁠⁠⁠⁠ ⁠ Do you or your spouse have a business or side hustle? In this episode we will lay out exactly why & how to separate your business finances from your personal finances. We'll cover: Importance of separating business finances from personal finances Separating business & personal finances makes budgeting easier How to have conversations about business finances and goals with your spouse How to set yourself up to make tax season super easy A hack to highlight business and personal transactions on bank statements The process of making a list of quarterly and annual expenses for each category Why you need separate bank accounts for personal and business finances When you might need to bring all finances together before separating them in order to help identify and consolidate accounts How separating finances ensures clarity in understanding the profitability of the business How separating business and personal finances removes the risk of the business affecting your personal budget goals How separating finances helps you know if your business is actually making money (is the business generating profit or incurring losses?) Grab the book Profit First here. 4 Ways To Connect With Us: 1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall  2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook  3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget  4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching  "I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.  Click here to view our privacy policy. This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!